Sign Agreement With Collegiate Racing Association

DETROIT (Dec. 10) - The PPG-Dayton Indy Lights Championship has signed a
letter of agreement with the North American Collegiate Racing Association
(NACRA) in an effort to develop university- and collegiate-based teams and
competition in CART's...

DETROIT (Dec. 10) - The PPG-Dayton Indy Lights Championship has signed a
letter of agreement with the North American Collegiate Racing Association
(NACRA) in an effort to develop university- and collegiate-based teams and
competition in CART's top development series in the coming years, Indy
Lights President Roger Bailey and NACRA Founder/President Scott Morris
announced today.

Long-term plans for NACRA include the formation of a collegiate
motorsports system that will feature university- and college-owned teams
operated by students in curriculum-based programs racing in Indy Lights as
soon as the 2001 season. The collegiate teams will compete in their own
class while also running for overall honors in Indy Lights races.

"We are issuing a challenge to all North American colleges and
universities to bring their competitive rivalries to one of the few
playing fields that provides a true cross between classroom-based
education and the athletic skills of traditional college-based sports,"
Morris said. "Students from varying degree programs - from mechanical and
computer engineering to sports marketing and public relations - now have
an unprecedented opportunity to use these skills while competing in a
major collegiate sport during their education."

Similar to the role Indy Lights fills in CART's Ladder System of driver
development, the series would be part of a three-tiered program of
progression within the NACRA system. Programs within NACRA are also being
developed for the American Junior Karting League and the U.S. Formula Ford
2000 series. Educational scholarships and credit-based curriculum for
specific degree programs are also planned by NACRA for all levels of
series competition.

"We are very pleased to join with NACRA in taking the first step in
developing a solid collegiate-based presence in Indy Lights," Bailey said.
"This series approach is certainly new territory for both Indy Lights and
motorsports in general, but we are hopeful that more than one university
will see the benefits of an association with CART, Indy Lights and NACRA.
We look forward to working with NACRA to make this exciting program a
reality."